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Loan loss provisions hit bank profits in1H2020
Egyptian banks’ profits shrank by 20% in 1H2020 to an aggregate EGP 50.05 bn in comparison with EGP 62.49 bn…
Remittances rise 11% in July
Remittances from Egyptians working abroad rose 11% to USD 2.9 bn in July, up from USD 2.6 bn reported in…
Edita Food Industries to receive EGP 105 mn loan from Arab Bank
Edita Food Industries signed a medium-term loan worth EGP 105 mn with Arab Bank to finance a new production line,…
Ahli United Bank bid for AUB Egypt gets regulatory approval
M&A WATCH- Ahli United Bank gets regulatory clearance for bid to buy out minority investor: Ahli United Bank’s (AUB) full…
NBE, Banque Misr scrap high-interest savings certificates
NBE, Banque Misr scrap high-interest CDs: State-owned National Bank of Egypt (NBE) and Banque Misr have stopped offering 15% fixed-rate…
What we’re tracking on 22 September 2020
Good morning, everyone, and welcome to yet another very busy newsday as we hit the midweek mark. Want to sound…
Sodic subsidiary signs EGP 2.57 bn medium term facility with AAIB
DEBT WATCH- Sodic subsidiary signs EGP 2.57 bn medium term facility with AAIB: Sodic subsidiary Soreal Real Estate Development signed…
IFC selling its stake in AUB Egypt?
M&A WATCH- Is IFC selling its stake in AUB Egypt? The International Finance Corporation (IFC) is reportedly selling its 10%…
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